Increased Funding Options For Small Businesses To Go Solar

May 12, 2011 - PRLog -- TYNGSBORO, MA, April 21, 2011- As more small businesses look to make long term cuts to basic operational costs, installing and using solar energy is now one of their best options. With several ways to fund a solar installation and an overall increase in the amount of available funds, small business have more ways to take advantage of an opportunity that benefits both their bottom line and the community.

In the past six months Second Generation Energy  of Hopedale MA has commissioned two commercial solar facilities for two separate businesses in Tyngsboro,MA, both on Progress Ave,  using different methods of funding. The first project, Trans Med USA, took advantage of a Solar Power Purchase Agreement.  In this type of financing arrangement, a 3rd party investor owns and operates the Solar Facility on Transmed’s rooftop.  Transmed then buys the electricity generated at an agreed upon discount to current utility rates The second project, Tyngsboro Sports Center used an SBA backed loan from Enterprise Bank and Trust, along with significant Federal and State rebates to fund their solar installation.

Darryl Wickens, owner of Tyngsboro Sports Center says, "Two years ago I sought funding from my bank to install solar on my business and was turned down. When I saw Trans Med's solar system across the street go up, I decided to give it another shot.  This time I received funding".

Edward Whitaker, Executive Director of Business Development at Second Generation Energy, says “ We are seeing substantial interest in solar financing through both conventional and non-conventional lenders and investors.  Solar Energy was historically limited to those who were well capitalized our had investment grade credit.   Now solar is becoming more widely accessible”.
Photos available upon request.

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ABOUT SECOND GENERATION ENERGY

Established in 2006, Second Generation Energy Group is a Solar Integrator based in Massachusetts offering turn-key solar solutions including Power Purchase agreements, solar lease options and SREC aggregation.
www.sgegroup.com